‘Now That’s How It Was Supposed To Go!’ Nomura’s McElligott Talks Selloff, Sees ‘Rally Looking Out’
“The ‘trade up into-, trade down out of-‘ the June serial options expiration phenomenon [is] finally kicking in”.
“The ‘trade up into-, trade down out of-‘ the June serial options expiration phenomenon [is] finally kicking in”.
At least America has something going for it.
“You know what they say”…
“…we might have triggered a ‘buyers are higher’ dynamic”.
“A taste of things to come”.
“A tongue in cheek thing”.Â
Factory gate deflation bites.
“It’s the same lobster”.
“China’s coverup allowed [COVID-19] to spread all over the world”.
There is “no sign of the trade slump bottoming out”.
“But none of us as Americans wants to see China prospering”.
“Investors”, he writes, are “still extremely bearish”.
Of course, all the usual disclaimers apply.
“Policymakers have never had to deal with such huge contraction in both demand and supply on this scale.”
None of this is going to mater if the virus recrimination continues, though.
There are a lot of bats there. Also, Stephen Moore is not an economist.
Bannon, the People’s Daily charged, is a “Cold War living fossil”.
Don’t go ’round tonight…
“….And then came a Plague, a great and powerful Plague.”
“…the hows and whys and ifs of what was once a crackpot leftfield are now out there actually being discussed.”
And no, this isn’t Trump calling off the trade war.
“I’m sure people will be very happy to get a big, fat, beautiful check”.
“…declines in services trade during the pandemic may be lost forever.”
The results were… well, not particularly inspiring.
“I will be here tomorrow afternoon to let you know.”
And at just the wrong time…
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